We’re watching a slow motion collapse
(twitter.com)
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This is only half the picture though. You can’t argue that wages haven’t stagnated since the 70s. To be equivalent for the purchasing power back then, minimum wage needs to be $60-something dollars now. And that’s minimum wage— aka entry level work. Not only all that, but the introduction of tech has actually increased workload for workers who are now expected to operate the same speed as machines. We have essentially been turned into machines. It’s like the beginning of the Industrial Revolution all over again, but for us it’s the beginning of the tech revolution. But yes it’s also true that kids have not been taught delayed gratification.
Everything will always change. You can't stand there and go "oh my gawd our parents had it sooo much better!" I can fill you with anecdotes all day long about people who did and who did not have it made and how they squandered it or even some who ran with it.
E.g. I had a 26 year old with a 4 year degree working at my last company buy a 400,000 house, 50% down working a job for 65k a year, no help from her parents.
Yes, it's harder. Just like it was hard to live through the great depression a scant four generations ago. And the civil war before that. And the revolutionary war before that. And plagues, famines, what have you.
If we don't stand up and overpower our circumstances, we are the weak men in the cycle of times.